FUU.V · 2023-07-17 12:00:00

F3 Hits Mineralization within 8m of the Athabasca Unconformity

Exploration Programs

F3 Hits Mineralization within 8m of the

Athabasca Unconformity

Kelowna, British Columbia--(Newsfile Corp. - July 17, 2023) -

F3 Uranium Corp

(

TSXV: FUU

)

(

OTCQB: FUUF

) ("

" or "

the Company

") is pleased to announce scintillometer results from four holes

of the ongoing 30-hole summer drill program at the JR Zone on the Patterson Lake North ("PLN")

Property, including 2 high grade intercepts in mineralized intervals that are both within

11m

of the

Athabasca Unconformity. Drill hole PLN23-073 tested for mineralization 15 meters up-dip of the high

grade intercept reported in PLN23-068 on line 060S (see NR July 4, 2023) and intersected

mineralization over an 11.5m interval starting

below the unconformity, including 0.70m of high grade

(>10,000 cps), of which

0.50m was off-scale radioactivity (>65,535 cps) between 225.00m and

225.50m. Drill hole PLN23-074 on line 075S intersected 15.0m of mineralization starting

11m

below the

unconformity, including 0.20m of high grade (>10,000 cps) between 228.15 and 228.35m.

Raymond Ashley, President, commented:

"We are excited that basement mineralization has been intersected even closer to the Athabasca

Unconformity, now within 8m, as this reinforces the potential for an unconformity or sandstone

component to the JR Zone mineralization. The discovery of mineralization at the unconformity or in the

sandstone would provide a compelling new target for JR Zone expansion drilling. Tests up dip from the

JR Zone mineralization are ongoing to define the best possible target at the unconformity for this drill

program. The Shea Creek deposit 46km to the north of PLN and the Key Lake deposit on the east side

of the basin are examples where basement hosted uranium mineralization extends through the

unconformity and into the sandstone. The first step out hole on line 165S did not intersect mineralization

but additional drill holes are being planned on that section to continue to expand the footprint along strike

of the JR Zone basement mineralization.

In addition, exploration drilling along the A1 main shear zone

has commenced, and prospective targets will be tested."

Drilling Highlights:

PLN23-073

(line 060S):

11.5m

mineralization from 215.5m - 232.0m, including

0.70m

mineralization of >10,000 cps radioactivity between 225.00m - 225.70m including

0.50m off-scale radioactivity (> 65,535 cps)

between 225.00m and 225.50m

PLN23-074

(line 075S):

15.0m

mineralization from 225.0m - 240.0m, including

0.20m

of mineralization >10,000 cps between 228.15 and 228.35m

Drilling Intercepts:

PLN23-071

(line 165S):

No mineralization >300 cps

PLN23-072

(line 690S): Exploration Hole

No mineralization >300 cps

Natural gamma radiation in the drill core that is reported in this news release was measured in counts

per second (cps) using a handheld Radiation Solutions RS-125 scintillometer. The Company considers

greater than 300 cps on the handheld spectrometer as anomalous, >10,000 cps as high grade and

greater than 65,535 cps as off-scale. The reader is cautioned that scintillometer readings are not directly

or uniformly related to uranium grades of the rock sample measured and should be used only as a

preliminary indication of the presence of radioactive materials. Samples from the drill core are split in

half on site and are standardized at 0.5m lengths. One half of the split sample will be submitted to SRC

Geoanalytical Laboratories (an SCC ISO/IEC 17025: 2005 Accredited Facility) in Saskatoon, SK. for

lithogeochemical analysis using their "Uranium Package".

All depth measurements reported are down-hole and true thickness are yet to be determined but the

Company estimates true thickness of the reported intervals in this news release to be close to reported

interval widths.

Table 1. Drill Hole Summary and Handheld Spectrometer Results

Collar Information

* Hand-held Spectrometer Results

On Mineralized Drillcore (>300 cps /

>0.5m minimum)

Athabasca

Unconformity

Depth (m)

Total

Drillhole

Depth

(m)

Hole ID

Section Line

Easting

Northing

Elevation

Dip

From (m)

(m)

Interval

(m)

Max CPS

PLN23-071

165S

587780.0

6410597.1

545.2

-60

no radioactivity >300 cps

179.0

323

PLN23-072

690S

588216.9

6410265.7

530.3

-74

no radioactivity >300 cps

n.a.

257

PLN23-073

060S

587754.6

6410708.7

545.6

-61

215.50

216.00

0.50

320

205.5

341

221.00

221.50

0.50

490

221.50

222.00

0.50

1200

222.00

222.50

0.50

520

222.50

223.00

0.50

<300

223.00

223.50

0.50

480

223.50

224.00

0.50

330

224.00

224.50

0.50

1600

224.50

225.00

0.50

4900

225.00

225.50

0.50

65500

225.50

225.70

0.20

20800

225.70

226.00

0.30

9000

226.00

226.50

0.50

7600

226.50

227.00

0.50

590

227.00

227.50

0.50

620

227.50

228.00

0.50

860

228.00

228.50

0.50

740

228.50

229.00

0.50

1000

229.00

229.50

0.50

610

229.50

230.00

0.50

720

230.00

231.50

1.50

<300

231.50

232.00

0.50

340

PLN23-074

075S

587745.9

6410683.9

545.7

-60

225.00

225.50

0.50

430

209.4

314

225.50

226.00

0.50

1600

226.00

226.50

0.50

580

226.50

227.00

0.50

1900

227.00

227.50

0.50

530

227.50

228.00

0.50

4800

228.00

228.15

0.15

4100

228.15

228.35

0.20

16000

228.35

228.50

0.15

4800

228.50

229.00

0.50

1700

229.00

229.50

0.50

3700

229.50

230.00

0.50

2000

230.00

230.50

0.50

3500

230.50

231.00

0.50

910

231.00

231.50

0.50

2100

231.50

232.00

0.50

810

232.00

232.50

0.50

<300

232.50

233.00

0.50

480

233.00

233.50

0.50

3200

233.50

234.00

0.50

2400

234.00

236.00

2.00

<300

236.00

236.50

0.50

1900

236.50

237.00

0.50

3100

237.00

237.50

0.50

1100

237.50

238.00

0.50

440

238.00

238.50

0.50

960

238.50

239.00

0.50

1800

239.00

239.50

0.50

1400

239.50

240.00

0.50

770

Handheld spectrometer composite parameters:

1: Minimum Thickness of 0.5m

2: CPS Cut-Off of 300 counts per second

3: Maximum Internal Dilution of 2.0m

About Patterson Lake North:

The Company's 4,078-hectare 100% owned Patterson Lake North property (PLN) is located just within

the south-western edge of the Athabasca Basin in proximity to Fission Uranium's Triple R and NexGen

Energy's Arrow high-grade world class uranium deposits which is poised to become the next major area

of development for new uranium operations in northern Saskatchewan. PLN is accessed by Provincial

Highway 955, which transects the property, and the new JR Zone uranium discovery is located 23km

northwest of Fission Uranium's Triple R deposit.

Qualified Person:

The technical information in this news release has been prepare in accordance with the Canadian

regulatory requirements set out in National Instrument 43-101 and approved on behalf of the company by

Raymond Ashley, P.Geo., President & COO of F3 Uranium Corp, a Qualified Person. Mr. Ashley has

verified the data disclosed.

About F3 Uranium Corp.:

F3 Uranium is a uranium project generator and exploration company, focusing on projects in the

Athabasca Basin, home to some of the world's largest high grade uranium discovery. F3 Uranium

currently has 18 projects in the Athabasca Basin. Several of F3's projects are near large uranium

discoveries including Triple R, Arrow and Hurricane.

Forward-Looking Statements

This news release contains certain forward-looking statements within the meaning of applicable

securities laws. All statements that are not historical facts, including without limitation, statements

regarding future estimates, plans, programs, forecasts, projections, objectives, assumptions,

expectations or beliefs of future performance, including statements regarding the suitability of the

Properties for mining exploration, future payments, issuance of shares and work commitment funds,

entry into of a definitive option agreement respecting the Properties, are "forward-looking statements."

These forward-looking statements reflect the expectations or beliefs of management of the Company

based on information currently available to it. Forward-looking statements are subject to a number of

risks and uncertainties, including those detailed from time to time in filings made by the Company with

securities regulatory authorities, which may cause actual outcomes to differ materially from those

discussed in the forward-looking statements. These factors should be considered carefully and readers

are cautioned not to place undue reliance on such forward-looking statements. The forward-looking

statements and information contained in this news release are made as of the date hereof and the

Company undertakes no obligation to update publicly or revise any forward-looking statements or

information, whether as a result of new information, future events or otherwise, unless so required by

applicable securities laws.

The TSX Venture Exchange and the Canadian Securities Exchange have not reviewed, approved or

disapproved the contents of this press release, and do not accept responsibility for the adequacy or

accuracy of this release.

F3 Uranium Corp.

750-1620 Dickson Avenue

Kelowna, BC V1Y9Y2

Contact Information

Investor Relations

Telephone: 778 484 8030

Email:

[email protected]

ON BEHALF OF THE BOARD

"Dev Randhawa"

Dev Randhawa, CEO

(See 2 plan maps and 4 cross sections below)

Figure 1: Patterson Lake North Summer 2023 Drill Program Update Map 1